Pathway Lending will host a workshop in Chattanooga to inform and educate local businesses about how to access a new $50 million Energy Efficiency Loan Program announced on Aug. 25 by Governor Phil Bredesen.
The workshop, with Clint Gwin, president of Pathway Lending speaking, will be on Wednesday, from 11 a.m.–1 p.m. at Sticky Fingers BBQ, 2031 Hamilton Place Blvd.
Utilizing a unique model, Pathway Lending’s Energy Efficiency Loan Program enables businesses to achieve significant, long-term energy savings while increasing their productivity and profitability. The program offers below-market rate loans with terms extending to ten years.
Loans can finance up to 100% of costs on projects including building retrofits, equipment replacements or upgrades, lighting and renewable generation projects. The loans may be repaid with the energy costs savings derived from each project.
Presenters will explain how organizations can apply for loans and answer any questions people local businesses might have. With first round applications due by Nov. 1, the program is available to any business seeking to reduce energy consumption in their Tennessee facilities through building retrofits and upgrades, equipment replacement purchases or other energy efficiency or renewable energy projects.
The state of Tennessee, Pinnacle National Bank, TVA, the US Department of Energy, the US Economic Development Administration and Pathway Lending joined together to create this unprecedented program.
Founded in 1999, Pathway Lending is a Community Development Financial Institution that provides loans to businesses lacking access to traditional financing options throughout Tennessee.